More than 50% of new small businesses fail within the first five years. The main reasons are lack of cash flow and unsustainable processes within the company. As a new business, your main goal is to build your product or service and attract customers as quickly as possible.
So far so good.
However, in order to create a functional working environment for you and your employees, you need to consider hiring certain service providers to speed up the process and ensure your business runs smoothly and profitably.
1. Legal Services
Launching a business comes with an array of legal considerations you need to handle. These include not only the legal requirements of registering your business but also the ones associated with running the business itself. Even minor legal violations can result in hefty fines and complications that can easily leave you out of money and out of business. To ensure you are setting up the right processes and following the law, it’s a good idea to turn to a legal service provider. They will also help you with any licenses and permits that your business may need.
2. Accounting Services
Hiring an accounting firm when starting a new business is a must unless you are an accountant yourself. It’s important to understand your tax liabilities and registrations, as well as any exemptions you are entitled to claim, which your accountant will be able to explain. You will also need help with tasks like managing your expenses, cash flow projections, asset purchases, payroll, and other processes.
3. Digital Marketing Services
Now that you have the legal and financial processes in place, it’s time to focus on getting customers. The most efficient way to do that, in the long run, is by promoting your business online. Digital marketing services typically include social media marketing, SEO (Search Engine Optimization), content marketing, and PPC (Pay Per Click) advertising. Getting help with one or all of these aspects of digital marketing will help you boost your business and start getting ROI faster. Our team at 411 Locals specializes in helping small businesses get more leads and more calls by offering affordable digital marketing services. If you’re curious to learn more about our work, we’d love to talk with you!
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